VCI Global Limited (NASDAQ:VCIG) Sees Significant Growth in Short Interest

VCI Global Limited (NASDAQ:VCIG) saw a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 989,757 shares, an increase of 457.8% from the May 14th total of 177,440 shares. Currently, 48.3% of the shares of the company are short sold. Based on an average daily volume of 16,660,581 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of VCI Global

A hedge fund recently bought a new stake in VCI Global stock. Jane Street Group LLC purchased a new position in shares of VCI Global Limited (NASDAQ:VCIG) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 47,075 shares of the company’s stock, valued at approximately $25,000. Jane Street Group LLC owned 0.78% of VCI Global as of its most recent SEC filing. Institutional investors and hedge funds own 0.20% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of VCI Global in a research note on Monday, April 20th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, VCI Global currently has an average rating of “Sell”.

VCI Global Stock Performance

VCI Global stock opened at $6.04 on Wednesday. The business has a 50 day simple moving average of $2.26 and a 200-day simple moving average of $21.30. VCI Global has a 12 month low of $0.71 and a 12 month high of $6,047.64.

About VCI Global

VCI Global, Inc (NASDAQ: VCIG) is a provider of outsourced receivables management and credit risk mitigation solutions for corporations, financial institutions and government agencies. The company offers end-to-end account administration services designed to streamline the order-to-cash cycle, helping clients improve cash flow, reduce days sales outstanding and mitigate credit risk across domestic and international markets.

VCI Global’s suite of services encompasses credit application processing, account setup, credit file creation, early-stage reconciliation and disputes management, cash application, and first- and third-party collections.